Financially Distressed Companies

Ally says Q4 net income falls, GM relationship extended

12:35 pm U.S. ET | Feb. 6, 2014
Ally Financial said today it has posted fourth-quarter net income of $104 million and lower pretax income for its auto finance business. The lender also said its preferred-lender relationship with General Motors, set to expire Dec. 31, was extended while the companies negotiate a new pact....
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Ally plans $5.9 billion buyback to help lender exit U.S. bailout

10:21 am U.S. ET | Aug. 20, 2013
Ally Financial, the auto lender seeking to repay its government bailout, is raising $1 billion in a private placement and said it will pay $5.9 billion in a plan to buy back preferred shares held by the Treasury Department....
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Ally’s 2nd-qtr. loss widens on mortgage woes; auto lending profitable

10:14 am U.S. ET | July 31, 2013
Ally Financial's losses widened to $927 million in the second quarter, mostly related to its former mortgage subsidiary, but its core auto finance business posted a pretax profit on continuing operations of $382 million, down 13 percent from a year earlier....
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